At present the US economy is suffering from job insecurity as well as higher rates of unemployment and, therefore, it makes real sense to purchase any real estate overseas. It might be the fact that you already are the owner of a real estate and in the case it would be prudent to expand the real estate portfolio overseas. In the subsequent paragraphs, we have mentioned several essential benefits of buying overseas property.
1. The most common reason for purchasing property overseas will be one’s choice of lifestyle, particularly for those tropical locations which offer sea, sun as well as sand. Wilfried Noir with Only Provence illustrates a potential new life, “It will be a wonderful idea to refresh yourself whilst enjoying the beautiful sunshine and the sweet chirping of the birds, not to forget the ocean waves brushing against the shoreline. You can spend a fantastic time by relaxing while sitting in the garden and sipping a cup of hot coffee before venturing out to explore the surrounding areas as well as the many attractions here in Province.”
2. There are many affluent individuals on the planet who like to be the proud owner of a holiday home in their preferred country. On many occasions, families, as well as solo individuals, come to a particular destination for spending their holidays or any job-related purpose and eventually fall in love with that location. Consequently, they decide to purchase a home in the place so that they will be able to visit the area occasionally as and when they like.
3. At present, innovative and exciting developing markets provide lucrative returns on investment when it comes to capital growth as well as rental income to the holidaymakers in case it happens to be a tourist resort. As a result, lots of individuals are actually purchasing real estate properties all over the world.
4. Furthermore, the pension schemes are quite insufficient nowadays and therefore individuals who are contemplating for retirement like to invest in overseas properties since they will be able to not only enjoy these properties themselves after retirement but also the investment benefits which were mentioned previously.
Last year over $100 billion was snapped up by the overseas purchases in US real estate only. The sales of the residential real estate in the US to the overseas purchases reached as much as $104 billion between May 2014 and July 2015 according to the National Association of Realtors which is approximately 9% of the total present home sales. As the number of real estate markets slowed down to 210,000 from 232,700 a year ago, purchasers paid for higher priced properties that lifted the sales total.